Overview

Needing care: Industry revenue will continue to grow as the population ages

IBISWorld’s industry research report on Hospices & Palliative Care Centers can be used to help you understand the industry’s market size, growth potential and major companies. Five-year forecasts provide insight into the industry’s prospects, so you can make decisions with confidence. This information is perfectly suited to informing your business plans, pitch books, benchmarking and SWOT analysis.

REPORT SNAPSHOT

Market Share of Companies
There are no companies with a dominant market share in this industry
Industry Statistics & Market Size
Revenue
$36bn
Annual Growth
12-17
4.0%
Annual Growth
17-22
Profit
Employment
503,023
Business
5,055

Industry Threats & Opportunities

  • Hospice care revenue is expected to rise, despite uncertainty surrounding reimbursement rates
  • Many people started using hospice as hospital stays and nursing homes became more expensive
  • Industry demand will likely escalate alongside the elderly proportion of the population
  • Industry Analysis & Industry Trends

    Prior to 2013, the Hospices and Palliative Care Centers industry grew rapidly for more than a decade, aided by government funding, an aging US population, rising healthcare costs and a general shift toward at-home end-of-life care. The industry continued growing straight through the economic downturn as relevant funding and the number of facilities offering hospice and palliative services grew. However, government funding for industry services has come under intense scrutiny in recent years. Hospice and home healthcare organizations are aggressively lobbying Congress to reconsider or revoke these reductions. Sources of industry demand will likely continue to escalate as the population ages and the popularity of home healthcare grows.

    Industry Report - Starting a New Business Chapter

    Barriers to entering the Hospices and Palliative Care Centers industry are moderate. Because the majority of hospice patients receive home care, the industry experiences low capital costs. At the same time, because hospice providers require licensed and trained medical staff composed of physicians, nurses and hospice aids, labor costs are extensive. Additional barriers include obtaining licensing, accreditation and meeting regulations required to obtain reimbursement from third-party payers. Some states have additional licensing and certification requirements, making it more costly, time consuming and difficult to enter the industry. For

    Additional Insights for the Hospices & Palliative Care Centers Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Hospices & Palliative Care Centers Industry are

  • Ability to take advantage of government subsidies and other grants
  • Ability to attract local support and frequent referrals
  • Recommendation/accreditation from authoritative sources
  • IBISWorld analysts also discuss how external factors such as Federal funding for Medicare and Medicaid and Number of adults aged 65 and older in the Hospices & Palliative Care Centers industry impact industry performance..

    shopping_cartVIEW PURCHASE OPTIONS

    Look under the hood?

    Download a FREE sample report

    Industry Products

    What is the Hospices & Palliative Care Centers Industry?

    This industry provides programs that offer symptom relief and pain management for patients with life-terminating illnesses. Hospice care applies to companies that administer care (in terms of comfort rather than cure) to patients with life-limiting illnesses or diseases. Nonhospice palliative care is provided to individuals with serious, complex illnesses who may or may not be expected to recover fully; this segment is excluded from this industry.

    Industry Products
    Private residence care
    Hospice inpatient care
    Hospital inpatient care
    Nursing home and residential facility care
    Industry Activities
    Providing continuous home care
    Providing general inpatient care
    Providing routine home care
    Providing inpatient respite care
    Providing hospice and palliative care

    Table of Contents

    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Federal funding for Medicare and Medicaid
  • Number of adults aged 65 and older
  • Number of people with private health insurance
  • Per capita disposable income

  • Current Performance
  • Hospice and Medicare
  • Growing demand
  • Chart: Revenue Growth

  • Industry Outlook
  • Demand stays strong
  • Funding woes
  • Table: Hospices & Palliative Care Centers Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Hospices & Palliative Care Centers Industry Lifecycle vs The Economy

  • Products & Markets
    Supply Chains
    Key Buying Industries
  • Life Insurance & Annuities
  • Health & Medical Insurance
  • Primary Care Doctors
  • Hospitals
  • Nursing Care Facilities

  • Key Selling Industries
  • Brand Name Pharmaceutical Manufacturing
  • Employment & Recruiting Agencies
  • Generic Pharmaceutical Manufacturing
  • Medical Instrument & Supply Manufacturing
  • Medical Supplies Wholesaling

  • Products & Services
  • Private residence care
  • Hospice inpatient care
  • Nursing home and residential facility care
  • Hospital inpatient care
  • Chart: Hospices & Palliative Care Centers Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Over 85 years
  • 75 to 84
  • 65 to 74
  • 35 to 64
  • Less than 24 years
  • 25 to 34 years
  • Chart: Major Market Segmentation for the Hospices & Palliative Care Centers Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitWagesPurchasesOther
  • Chart: Cost Structure Benchmarking – Sector vs Hospices & Palliative Care Centers

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Hospices & Palliative Care Centers Industry

  • Industry Globalization
    Major Companies
    There are no major players in this industry
    Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Hospices & Palliative Care Centers Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Key Statistics
    Table: Industry Data for the Hospices & Palliative Care Centers Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Federal funding for Medicare and Medicaid (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Jargon & Glossary
    Hospice
  • Hospice provides medical care, pain management and emotional and spiritual support for patients with a life-limiting illness and their family and loved ones.
  • Medicare
  • Medicare provides health insurance coverage for adults over the age of 65, for the disabled and for those who have kidney failure and require dialysis.
  • Palliative Care
  • Palliative care extends hospice care to incorporate patients earlier in their illness; it addresses physical, emotional, social and spiritual pain.
  • Why buy this report?

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Hospices & Palliative Care Centers:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Hospices & Palliative Care Centers market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Hospices & Palliative Care Centers, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

    Join IBISWorld today

    Contact Us

    Want to speak to a representative? Call us.

    clear